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My husband and I live in the State of Florida and are in the midst of a Short Sale to try to save our credit and to cease a foreclosure. We really want to stay in our home and feel that perhaps this new homeowners law that is being passed or has been passed, not sure which...by Pres. Bush may afford us to do so.

Is there anyone out there who knows if this may benefit us? We have been staying in our house, looking for a new home, but to no avail. Mortgage has not been paid since February of 2008. We will re do fixed mortgage for 30 years, but at a lower interest rate and mortgage amount...which went up by about $400 a month in a 3 month span. Now our mortgage company has gone bankrupt...WHERE ARE THEY??? Crying or Very sad

helping_user · Posted: Mon Sep 08, 2008 11:32 pm Post subject:

Welcome Lady T.

Are you talking about the New housing Bill as per which the FHA will be helping out subprime borrowers refinance their loans? You haven't paid for your mortgage since the past 8 months or so. So, you're well behind on your loan. Didn't the company ask you for payments. Did they go bankrupt after declaring foreclosure on your home?

To know what to do if lender files bankruptcy, refer to a previous forum discussion.

Thanks.

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